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John Chesshire
The Shire Real Estate Group
2651 East Chapman Avenue #103
Fullerton, CA 92831

714-317-8278
Contact Us
CA DRE#00922652 

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Listing 21 out of 278
$1,249,000 Active Under Contract

2036 E Wilshire Avenue E
Fullerton, CA 92831

4 units | Multi Family Home
8821 sq ft lot - MLS# OC19159723
Property Photo
1/14

Description

EXCELLENT 4-PLEX INVESTMENT!!! What a great opportunity for your hard to qualify Buyers! The Seller will carry a first trust deed loan for up to 30 years at 4.99% fixed and will even take interest only payment in the first 2 to 5 years of the loan. No need to use bank financing!!! This is an excellent 4-plex investment located approx 1/2 mile from Cal State Fullerton and approx 3/4 of a mile from Fullerton College. Also, there is a Junior High School very near the property. The property also features the following: (1.) All units have no one below or above any of the other tenants and tenants are all long term...virtually no vacancy!!! (2.) Plumbing was replaced with copper plumbing in 1995. (3.) Roof was replaced in 2017/2018. (4.) Sectional Garage doors replaced in 2011. (5.) Building was fumigated in 2011. (6.) Outside lighting updated in 2017 (7.) New Exterior paint in 2013. (8.) All units have a porch, patio or yard. (9.) In the last month or so the Seller spent $10,000 installing new landscaping, lawns and replaced the sprinkler system. (10.) Apartment "D" master bathroom has been completely renovated and new shower installed. (11.) Units "C" and "D" have had new windows installed. EXCELLENT UNIT MIX...(2) 3 br-2 ba units each with a 2 car garage and (2) 2 br-2 ba units each with a 1 car garage. Central laundry room with leased equipment. At currently low rents 16.68 GRM. Can be 14.32 GRM after raising rents. SUBMIT OFFERS WITH FINANCING TERMS TO SUIT YOUR BUYERS!!!!

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active Under Contract
  • Zip Code: 92831
  • Year Built: 1963
  • Subdivision/Neighborhood: Other
  • Stories: Two
  • Units: 4 units
  • # of Parking Spaces: 7.00
  • Fireplace: Living Room, Yes
  • Lot Size: 8821 sq ft lot
  • Zoning: R3
  • Area: 83 - Fullerton
  • Appliances: Built-In Range, Disposal
  • Appliances YN: Yes
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 4182.00
  • Building Area Units: Square Feet
  • Cap Rate: 3.92
  • Common Walls: 2+ Common Walls
  • Community Features: Curbs
  • Cooling: Wall/Window Unit(s)
  • Cooling YN: Yes
  • Country: US
  • Direction Faces: North
  • Directions: 57 Frwy to Chapman, then West on Chapman to Mountain View then left on Wilshire
  • Electric Expense: 408.00
  • Fence YN: Yes
  • Fencing: Average Condition
  • Foundation Details: Concrete Perimeter, Slab
  • Fuel Expense: 1512.00
  • Garage Spaces: 6.00
  • Gardener Expense: 1020.00
  • Gross Income: 75960.00
  • Gross Multiplier: 16.68
  • Gross Scheduled Income: 74880.00
  • Heating: Wall Furnace, Natural Gas
  • Heating YN: Yes
  • Insurance Expense: 1440.00
  • Laundry Features: Common Area
  • Laundry Income: 1080.00
  • Laundry YN: Yes
  • Listing Agent License: 00640512
  • Listing Office License: 01208697
  • Lot Features: Front Yard, Lawn, Level with Street, Lot 6500-9999, Irregular Lot, Sprinkler System, Sprinklers In Front, Walkstreet
  • Lot Size Area: 8821.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 49000.00
  • New Taxes Expense: 14486.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number With Range: 4
  • Operating Expense: 25463.00
  • Parking Features: Assigned
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Road Surface Type: Alley Paved
  • Roof: Asbestos Shingle
  • Sewer: Public Sewer, Sewer Paid
  • Stories Total: 2
  • Total Actual Rent: 6240.00
  • Total Expenses: 25463.00
  • Uncovered Spaces: 1.00
  • Utilities: Electricity Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Water Sewer Expense: 2813.00
  • Water Source: Public
  • Year Built Source: Public Records
Courtesy of New Dimension Investment Prop, Bob Walz



The Shire Real Estate Group | 714-317-8278 | Contact Us
2651 East Chapman Avenue #103 - Fullerton, CA 92831
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